James Manning, Jr. voted Yea (Passage With Amendment) on this Legislation.
Title: Requires Insurers to Offer Expanded Coverage in Case of Major Disaster
Signed by Governor Tina Kotek
Title: Requires Insurers to Offer Expanded Coverage in Case of Major Disaster
Vote to concur with senate amendments and pass a bill that requires that Insurance companies pay out at least 70% of claims involving major natural disaster without requiring a specific inventory of lost property
Requires an insurer to always provide forms in case a policy owner wants to make a claim (Sec. 1).
Requires a policy owner to provide proof of loss within 90 days after receiving a form (Sec. 1).
Defines major disaster (Sec. 1).
Specifies that in the case of a total loss of property due to damages caused by a defined major disaster that the insurer must do the following (Sec. 1):
Offer the insured a minimum of 70 percent coverage for lost property without the need for a full inventory;
Notify the insured that this does not change their benefits and that they may even get more benefits by submitting a full inventory;
Disclose information about how the insurer determines the depreciated value of the contents of the insured property;
Pay for any covet costs associated with removal of debris and detritus.
Specifies that for incidents where the insured submits a full inventory with an amount that exceeds the amount the insurer offered the insurer shall do the following (Sec. 1):
Request any info the insurer requires;
Pay within 30 days of receiving the inventory.
Title: Requires Insurers to Offer Expanded Coverage in Case of Major Disaster
Vote to amend and pass a bill that requires that Insurance companies pay out at least 70% of claims involving major natural disaster without requiring a specific inventory of lost property
Requires an insurer to always provide forms in case a policy owner wants to make a claim (Sec. 1).
Requires a policy owner to provide proof of loss within 90 days after receiving a form (Sec. 1).
Defines major disaster (Sec. 1).
Specifies that in the case of a total loss of property due to damages caused by a defined major disaster that the insurer must do the following (Sec. 1):
Offer the insured a minimum of 70 percent coverage for lost property without the need for a full inventory;
Notify the insured that this does not change their benefits and that they may even get more benefits by submitting a full inventory;
Disclose information about how the insurer determines the depreciated value of the contents of the insured property;
Pay for any covet costs associated with removal of debris and detritus.
Specifies that for incidents where the insured submits a full inventory with an amount that exceeds the amount the insurer offered the insurer shall do the following (Sec. 1):
Request any info the insurer requires;
Pay within 30 days of receiving the inventory.
Title: Requires Insurers to Offer Expanded Coverage in Case of Major Disaster
Title: Requires Insurers to Offer Expanded Coverage in Case of Major Disaster